Real Estate Math
A North Dakota broker earns a commission of $13,500 on a sale. If this represents 4.5% of the sale price, what was the sale price?
A$275,000
B$295,000
C$300,000✓ Correct
D$325,000
Explanation
Sale price = Commission / Commission rate = $13,500 / 0.045 = $300,000. To solve this, multiply the relevant values: $13,500 at 4.5%.. The correct answer is $300,000.. This is a common calculation on the North Dakota real estate exam.
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